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to richard at campaign's for america's future that's a progressive political organization. he says it's unlikely that the u.s. will meet the deadline. >> it looks extremely unlikely at this point. they're not returning to the lower house until the day before the deadline. so chances are there won't be a deal before january 1st. but then most of the provisions of this so-calleded fiscal cliff won't have an immediate impact. several will but most will be delayed. so thile still have a chance to work in january. >> how is it going to be delayed? because delay has been something that president obama and the democrats have rejected. >> the tax laws won't have an impact on people until they start paying their taxes in earnest. the effect of that will be very mild, very slight. and some of the spending cuts, the -- the executive branch has 30 days to present its plan for putting these cuts into effect so they may not even take effect. so a number of the -- most economists agree that the impact of the fiscal cliff would be severe if it lasted for a period of time with the assumption that they
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